I can't travel far from Ilford. Is there a reason why all Ilford conveyancing practitioners are not on all mortgage company panels?
Banks point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in mortgage companies removing less reputable firms off their official list of approved conveyancers .
I purchased a freehold premises in Ilford but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Ilford and has limited impact for conveyancing in Ilford but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the generation of new rentcharges post 1977.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
The Ilford conveyancing lawyers that I recently instructed on my purchase in Ilford have without warning closed. I only went with them because I had to have a lawyer on the Kent Reliance conveyancing panel and my preferred Ilford lawyer was not. I paid them money in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Kent Reliance conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
I purchased my flat on 8 June and the transaction details is yet to be on the land registry website. Should I be concerned? My conveyancing solicitor in Ilford expressed confidence that it should be recorded in less than a month. Are titles in Ilford particularly slow to register?
As far as conveyancing in Ilford registration is no quicker or slower than anywhere else in the country. Rather than based on location, timescales can vary subject to the party submitting the application, whether it is in order and whether the Land registry need to notify any third parties. Currently approximately three quarters of such applications are fully addressed in less than three weeks but some can be subject to protracted hold-ups. Historically registration is effected once the purchaser has moved in to the property so 'speed' is not usually top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for an expedited registration.
I'm remortgaging my existing house to a BTL mortgage with Platform Home Loans Ltd and intend to use the remaining equity towards further house. The location we are talking about is Ilford. Will your conveyancers be able to act for both sets of banks and link together the two deals?
Make use of our comparison tool on this page to be sure that the conveyancers are approved by both banks. On the basis that they are the conveyancer will be able to tie up the two transactions but you should talk with you conveyancer and communicate your expectations and needs.
Am I better off to go with a Ilford conveyancing solicitor in close proximity to the house I am purchasing? We have a good friend who can execute the legal work however his firm is located over three hundred miles drive away.
The primary upside of using a high street Ilford conveyancing practice is that you can pop in to sign documents, hand in your ID and apply pressure on them if necessary. Having local Ilford know how is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and in the main were content that should outweigh using an unfamiliar Ilford conveyancing lawyer solely due to them being Ilford based.